Analysis of Haixia Innovation (300300) Strong Performance: Driving Factors and Risk Assessment

Haixia Innovation (300300) is a listed company on the Shenzhen Stock Exchange’s ChiNext Board, with main businesses covering smart city and innovative finance sectors [0]. Since 2025, the company’s stock price has performed extremely strongly, rising rapidly from 5.96 yuan at the beginning of the year to 15.2 yuan in November, with a cumulative increase of over 155%. During this period, there were multiple daily increases of more than 10%, showing strong bullish momentum [0].
Financial层面, the company’s 2025 revenue was 173 million yuan, net profit was 40.48 million yuan, EPS was 0.08 yuan, but the gross profit margin was only 0.8% [0]. In terms of valuation indicators, the P/E ratio reached 191.79x and the P/B ratio was 71.45x, significantly higher than the industry average [3].
Regarding market driving factors, the company is classified as an IoT concept stock [2], benefiting from national policy support for digital transformation and smart city construction [0]. The 2025 third-quarter report shows that the net profit attributable to parent company increased by 66.87% year-on-year, and main business revenue grew by 4.75% year-on-year, with obvious performance improvement [0]. Recently, capital flows have been active. On November 14, the main capital had a net outflow of 4.072 million yuan, reflecting high market attention but existing differences [4].

1. Concept and Policy Resonance
   : The hype around the IoT concept and the positive national policies for smart city construction have resonated, driving the stock price up, although the company’s gross profit margin is low [0][2].
2. Historical High Pressure
   : The current stock price is in the high range of the 52-week interval (2.40-15.80 yuan), close to the historical peak of 15.80 yuan, and may face profit-taking pressure [0].
3. Obvious Capital Differences
   : Recently, the main capital has had a net outflow, indicating that some investors have become cautious, while retail investor attention remains high [1][4].

• Overvaluation
  : The P/E ratio and P/B ratio are significantly higher than the industry average, so there is a risk of valuation correction [3].
• Profit-Taking
  : The stock price is at a historical high, so profit-taking may occur in the short term [0].
• Weak Profitability
  : The gross profit margin is only 0.8%, so long-term profitability is questionable [0].

• Continuous Policy Support
  : The smart city and IoT sectors are still supported by national policies, and the industry has broad development space [0].
• Performance Improvement Potential
  : If the company can continuously improve its gross profit margin and expand its revenue scale, it may support the valuation [0].

Haixia Innovation (300300)'s strong performance is mainly driven by multiple factors: performance improvement, IoT concept hype, and policy benefits [0]. However, high valuation, low gross profit margin, and historical high pressure need to be focused on. Investors should consider their own risk tolerance and view the current market performance rationally.